Aditya Birla Renewables secures $1.6 billion for acquisition

Aditya Birla Renewables (ABRen) has secured a $1.6 billion term loan facility from Mitsubishi UFJ Financial Group. The funding is intended for the acquisition of Solenergi Power, which includes the Sprng Energy group of companies. This follows an agreement signed in July to acquire Sprng Energy from Shell Overseas Investment for an enterprise value of approximately $1.8 billion.

In the United States, Swift Current Energy closed a $750 million corporate credit facility, which includes a $250 million accordion option, to support large-scale energy projects. Additionally, Key Capture Energy (KCE) secured a $300 million letter of credit facility from Standard Chartered to support its battery energy storage systems development pipeline.

In Europe, Otovo has entered definitive agreements to acquire Green Panel Solar Energy Systems for $11 million. The transaction, involving cash and newly issued shares, will expand Otovo’s operations across 15 European markets. Separately, Sun Drops Energia, a subsidiary of KP Group, is acquiring equity in renewable energy provider DEK and Mavericks Green Energy.